I blogged on the ‘Double Irish’ in 2014 and that this tax arrangement would be ended fully within four years.
Yesterday the European Commission ruled that a tax deal between the Irish government and Apple amounted to illegal state aid with Apple being ordered to pay a record-breaking €13bn (NZ$20bn) in back taxes to Ireland. Apple, the world’s biggest company, was paying a tax rate of just 1% and in 2014 was paying 0.005% when he usual corporate rate in Ireland is 12.5%. This equates to €50.00 tax for every €1 million earned.
The commission said Ireland’s tax arrangements – Double Irish – with Apple between 1991 and 2015 had allowed the US company to attribute sales to a “head office” that only existed on paper and could not have generated such profits. See below:
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Double Irish is a tax avoidance procedure that some multinational corporations use to lower their…
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Utopia, you are standing in it! 
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